{
  "id": 1042930,
  "title": "Indian-American CEO who sacked 900 over Zoom gets fired himself",
  "url": "https://urgent.news/2026/08/15/indian-american-ceo-who-sacked-900-over-zoom-gets-fired-himself",
  "topic": "business",
  "section": "Business",
  "published": "2026-08-15T13:08:15.000Z",
  "source": {
    "name": "Times of India",
    "slug": "times-of-india",
    "url": "https://timesofindia.indiatimes.com/world/us/doom-board-lowers-the-boom-on-indian-american-ceo-who-fired-900-employees-over-zoom/articleshow/133263198.cms"
  },
  "original_language": "en",
  "account": "Indian-American entrepreneur Vishal Garg, known for his ruthless corporate layoffs, has been fired as CEO of Better Home & Finance. Garg, who founded the company in 2014 after becoming frustrated with traditional mortgage processes, gained international notoriety in December 2021 when he fired 900 employees over a three-minute Zoom call. He subsequently took a leave of absence and returned to his position as CEO.\n\nHowever, Garg's tenure as CEO came to an end in early August when Daniel Lewis, a hedge-fund manager who joined Better's board just a week prior, became interim CEO. The company's board cited concerns about Garg's \"judgment, temperament, and credibility\" as well as the company's financial losses and stock price decline. Better's stock price has dropped by over 90% during Garg's leadership, and the company's losses have exceeded $1.5 billion since 2022.\n\nGarg acknowledged that his ejection from the company has damaged its reputation, but he insisted that he was removed just as the company was approaching a turnaround. He claimed that Better was on the \"5-yard line\" after rebuilding the business, with loan volume tripled and the company close to profitability. However, Garg also expressed feeling \"hoodwinked\" by Lewis, who he said praised the company's strategy on social media and used that to gain access to the board.\n\nSince the pandemic refinancing boom, Better has been on a decline, with annual sales plummeting from $1.5 billion in 2021 to $70 million in 2023. The company's market value has also decreased significantly, from $8 billion to roughly $300 million. Garg is not accepting his dismissal quietly and has hired a prominent law firm to regain the CEO position, offering to work for $1 a year until Better returns to profitability. He stated that he has backing from shareholders holding shares with special voting powers and expressed hope for the future of the company.",
  "summary": "Indian-American entrepreneur Vishal Garg has been ousted as Better Home & Finance CEO. The company cited concerns about his judgment and credibility after significant losses. Garg's removal follows his controversial 2021 mass layoff of 900 employees. He is now seeking to regain his position and is offering to work for one dollar annually. Better's market value has significantly decreased since…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}